CandleFocus Do Not Sell Your Bitcoin at $100K, CryptoQuant CEO Warns
2024-12-05
Author: Content Editor
The founder of CryptoQuant, Ki Young Ju, warns investors against selling their Bitcoin hastily after it broke the $100K mark. He believes that Bitcoin is currently in a price discovery phase and selling too early could be costly. Young Ju shared a personal anecdote about the regret of exiting the market too soon when Bitcoin reached $10,000 four years ago. He urges the crypto community to consider the bigger picture and cautions against reacting too quickly during volatile market phases. Experts predict that Bitcoin's true target is $500K, and in the short term, it could reach $138K before a pullback. Institutional investors are now FOMO-buying Bitcoin at the $100K level, with Hut 8 planning to raise $500 million to purchase Bitcoin as a strategic reserve asset.
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